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12

Russia To Reevaluate Gold Reserves

The Central Bank of Russia announced that it will reevaluate

The Central Bank of Russia announced that it will reevaluate the country's gold reserves according to market prices on January 1, 2006.

The bank said that there was a necessity of aligning the published data with current market realities.

However, if the Central Bank was getting ready to buy massive amounts of gold, the market prices will allow the bank to avoid accounting mistakes.